The company recognises that travellers today are roaming the world differently than they did a few years ago and therefore its rebrand is not just a name change, but is aimed at representing the new reality of travel.
Six times the size
Roami intends to shape the future of urban travel by providing a space that is purposefully designed for groups, and six times larger than a typical hotel room.
Each building is operated entirely by Roami, giving the brand creative control over the guest experience in its mission to inspire human connection.
Furthermore, the hospitality brand has announced a US$14 million Series A funding round to support strategic vision and expansion as the company continues to adapt to the modern-day roamer.
The investment is led by Vigo Capital, bringing the brand’s total funding to US$29 million. Kirill Vinogradov from the finance firm commented: “We’re proud to support Roami as they re-imagine the way the world lives, works, and travels. The company’s consistent growth since 2020 despite volatile external conditions proves that they truly understand how to satisfy the needs of the modern roamer and we’re looking forward to seeing their continued growth and expansion.”
More to accomplish
Founded in 2016, Roami was born from CEO Andreas King-Geovanis’ belief that travellers should not be forced to choose between two flawed options: cramped and expensive hotel rooms or inconsistent and unpredictable vacation rentals. By managing the entire building – not just a few floors or units – Roami aims to provide a memorable stay without compromise.
King-Geovanis said: “It’s been an incredible six years, and we are grateful for the success we’ve had, but there is much more to accomplish. We’re living in the most iterative moment ever to exist in hospitality, and are among a handful of brands writing the future of travel. None of this would be possible without our extremely dedicated and talented coworkers who continuously set new standards for the industry.”
In the last three years, Roami grew 800% despite the most devastating crisis in hospitality since World War II. Following a strong year, the hospitality company had over US$40 million in revenue in 2022 and continues to grow.
Roami COO Brandreth Canaley commented: “We’re excited to introduce Roami as a brand built around what we’ve termed ‘predictive hospitality’. Throughout the customer journey, our technology is collecting the dots and connecting the dots to anticipate guests’ needs before they even know they have them.”
Stemming from this success, Roami has acquired new buildings in existing markets, and recently expanded to West Palm Beach, bringing its inventory to over 500 units across South Florida and New Orleans. Roami will use the funding to continue expansion across local markets and beyond.
Roami CFO Iskander Karimov added: “It is great to celebrate our fundraise, but more importantly, we are celebrating what’s made this company successful. This is a business that should be funded by the guest, for the guest, and we are staying true to our belief: people, service, profits–in that order.”